Watson Farley & Williams (“WFW”) has advised Celsius Resources Limited (“Celsius Resources”) on its admission to trading on the AIM market of the London Stock Exchange and connected fundraising.
Celsius Resources raised approximately £2.4m by way of a placing and direct subscription of new shares and will have a market capitalisation at AIM admission of approximately £14.8m. It has also been listed on Sydney’s Australian Securities Exchange (ASX) since 2016.
Perth-headquartered Celsius Resources is a natural resources exploration and development company with a portfolio of world-class copper-gold assets in the Philippines and a cobalt asset in Namibia. Its flagship asset, the Maalinao-Caigutan-Biyog Copper-Gold Project, is located on the Philippines’ main island Luzon 320 km north of the capital Manilla and with good access to key transport and export infrastructure.
Celsius Resources believes its listing on AIM, which has a proven track record for raising capital for companies active in the Philippines and Africa, will generate interest from new institutional investors expanding its stakeholder base and enabling it to transform its portfolio of assets into operating mines.
The WFW London Mining and Commodities team that advised Celsius Resources was led by Global Mining and Commodities Sector Head Jan Mellmann, supported by Senior Associate Sarah Williamson and Associates Clementine Freeth and Sarika Parmar.
Jan commented: “We are delighted to have advised Celsius Resources on their admission to trading on AIM and successful fundraising in what is the first IPO on AIM in 2023. This represents a very positive start to 2023 and demonstrates that there is appetite in the market for new issues with the right combination of assets and geographies”.
